The funded status of U.S. corporate pensions saw a small increase in July.

According to BNY Mellon Investment Strategy & Solutions Group, their funded status rose 1.6 percentage points to 88.2 percent. Year-to-date, the funded ratio is up 11.1 percentage points.

For U.S. corporate pension plans, the July improvement was driven by a 2.7-percent increase in assets, which was propelled by strong U.S. equity returns. Liabilities for the typical plan increased 0.9 percent as the discount rate on Aa corporate bonds fell four basis points to 4.65 percent.

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